For The Regime? Bad? Think just anybody has cash laying around to buy our paper? Our paper will not generate the prices it normally would at auction, and we'll still have to pony up P&I on face. (They'll sell at a discount)
On the flip side I would normally say this is good, as a sane person would reduce the number of offerings to keep the price up, but this Regime in unsane and needs every penny it can scrounge, it is incapable of reducing spending, so no matter how hard we have to bend over for it, Obama will bend, so it looks bad all around to me!
We'll see if any one else picks up the slack, but that is not something you can bank on right now.